Financial Only Services
Our financial only services program provides monthly assessment billing, AP, AR, accounting, collections and escrow services, all through our automated systems. Our program is designed to meet your Association’s monthly and annual financial reporting needs. Our reports are easy to read and understand, while providing a detailed and complete set of financials. We will assist the board with the association’s annual budget, and provide accurate budget tracking on a monthly basis. We will coordinate with the association’s accountant to make sure all taxes and audits are completed accurately and on time. We can assist any association in completing a professional reserve study, which allows the board to better prepare for the financial success in the future. This is the perfect solution for self-managed communities, or smaller communities with an active board.
Financial Only Services Include:
- Monthly, quarterly or annual assessment billing statements sent to each owner.
- Owners will have the option to pay by mail or credit card and e-check with a reasonable convenience fee. These fees will not affect the net income to the association, while giving owners flexible payment options.
- Tracking to ensure association vendors (i.e. landscaper) are properly licensed and insured to perform work for the HOA.
- Invoices received from association vendors are e-mailed to board for review and approval prior to payment. All vendor payments are processed within 48 hours of board approval.
- Accelerated will work with the board to develop a collection policy that will clearly explain the assessment schedule, interest fees, late fees, and collection fees. All collection policies will be developed within the guidelines of your HOA’s documents and will be recorded with the county of record for the HOA.
- Monthly financial packets will be sent electronically to the board within 10 days after receipt of bank statement from the prior month. (sample financial packets available)
HOA website can be added to the financial only package for a small fee.